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Curefoods IPO

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Upcoming IPO. View DRHP for more details.

About the Company
The company is an internet-driven multi-brand food services company offering comprehensive cuisines catering to a range of consumer preferences and dietary needs. As of March 31, 2025, the company is the second largest digital-first food services company in India (excluding food delivery marketplaces) in terms of revenue from operations in Fiscal 2024. The company's multi-channel approach includes providing food offerings to customers under its brands through delivery and non-delivery channels, comprising cloud kitchens, kiosks, and restaurants. The company operates a portfolio of 10 Key Brands designed to cater to multiple price points, different cuisines and taste preferences, as well as various meals through the day.
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Founded In

2020

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CEO

Ankit Nagori

Financials of Curefoods India IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2023Mar 2024Mar 2025
Operating Revenue382.04585.12745.80
Other Income29.5149.9729.69
Total Income
411.55635.09775.49
Total Expenses
754.28806.88944.18
Profit Before Tax-342.73-172.61-169.97
Total Profit
-342.73-172.61-169.97

All figures are in crores (₹)

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Utilisation of Proceeds

All figures are in crores (₹)

PurposeAmount
The company proposes to establish new cloud kitchens, restaurants, kiosks and central kitchens under the Krispy Kreme brand, expand certain existing cloud kitchens by way of brand addition, and purchase machinery and equipment to strengthen its position as a multi-channel food services player.153
The company intends to repay or prepay, in full or part, certain outstanding borrowings availed by it, including payment of any accrued interest thereon, to reduce outstanding indebtedness and debt servicing costs.127
The company proposes to utilize funds towards lease payment for certain properties leased to the company as of March 31, 2025, including registered office, corporate office, central kitchens, cloud kitchens, restaurants, kiosks and warehouses.40
The company intends to invest in its subsidiary towards acquisition of additional shareholding and setting up of a new central kitchen, cloud kitchens and restaurants under the Sharief Bhai brand.92
The company proposes to invest in its subsidiary for acquisition of additional shareholding and sales and marketing initiatives for the Cakezone brand comprising dessert offerings.11
The company intends to acquire additional shareholding in its subsidiaries namely Millet Express Foods Private Limited, Munchbox Frozen Foods Private Limited, and Yum Plum Private Limited to continue expansion of its portfolio of brands.81
The company proposes to pay deferred consideration under the business transfer agreement entered into with Jaika Hospitality Ventures Private Limited and its founders for acquisition of brands including Rolls on Wheels.3
The company intends to utilize funds for sales and marketing expenditure to enhance brand presence through targeted and innovative marketing initiatives, including celebrity endorsements and digital platform partnerships.14
The company proposes to utilize funds towards funding inorganic growth through potential unidentified acquisitions and strategic initiatives, and general corporate purposes including working capital requirements and strategic initiatives.-
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  • Second Largest Digital-first Food Business in India with Wide Geographical Footprint: The company is among the top two leading cloud kitchen companies in India in terms of service locations covered, operating 502 Service Locations across over 70 cities and towns as of March 31, 2025.
  • Diversified Portfolio of Brands Catering to a Range of Consumer Preferences: The company operates 10 Key Brands including EatFit, CakeZone, Nomad Pizza, Sharief Bhai Biryani, and Olio Pizza, with Key Brands contributing 98.35% of revenue from operations in Fiscal 2025.
  • Robust Supply Chain and Quality Control Driving Operational Excellence: The company maintains ISO 22000:2018 certified central kitchens with temperature-controlled systems and comprehensive quality control measures, ensuring efficient order preparation times across brands.
  • Ability to Acquire, Integrate and Scale New Brands: The company has successfully acquired and scaled brands like Sharief Bhai (revenue grew from ₹353.18 million in Fiscal 2023 to ₹1,480.29 million in Fiscal 2025) and Olio Pizza (revenue grew at 211.06% CAGR).
  • Advanced Technology Stack: The company employs AI-driven continuous monitoring for demand estimation, unified dashboard for order management, and direct API connectivity with delivery platforms for real-time order syncing and automated processing.
  • Experienced Promoter and Management Team backed by Institutional Investors: The company is led by Ankit Nagori with over 15 years of experience and supported by institutional investors including 3State Ventures, Iron Pillar, Chiratae Ventures, and Accel India V.

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